Saw a recent video by the "Lockpicking Lawyer" who tried out the new, improved, stronger Hexband from Ottolock - with handheld tin snips he cut through in seconds. Links to the video, along with Ottolock statement in response, in the Portland Bike blog post
here.
I'll still use my older Ottolock for its intended purpose (keep the honest people honest at convenience store stops) but for riskier trips I'll go back to carrying my Kryptonite U lock and cable they all seem to recommend.
On a personal note, before the Ottolock I was using a keyed cable lock that I bought 20 years ago that protected my bikes overnight on the car many times even though videos showed how easy it was to cut through. I recently lost the key to that lock and sure enough, about 1 minute with an old bolt cutter and a pair of diagonal clippers was all it took.